10 New Small Business Ideas for 2019

As a small business owner, you have to think of ways to remain competitive in a saturated market. The best way to do so is by constantly innovating through the use of emerging technologies and business trends. When implemented correctly, they will create a positive impact on your company operations and will help accelerate the growth of your business. If you are looking for some small business ideas for 2019, then here are the upcoming business techs and trends that will help your company.

Data Crunching

Do you want to develop a new product or service? Are you interested to know your past and present clients’ demography? You can do these and more if you make use of the information gathered by the business from everyday operations through data crunching. It is a method of processing a large amount of data and sorting it using algorithms to gain insight and make informed decisions from it.

Digital Marketing

Whether you run a digital business or own a physical store, marketing your products or services on the web is an excellent idea. Take advantage of the different digital marketing strategies you can do with the internet. Doing so will help your business reach a wider range of customers. Some examples are social media marketing, paid web ads, affiliate marketing, email campaigns, content marketing, and Search Engine Optimization (SEO).

Chatbots

If you have a website, a web store, an app, or a social media account, then Chatbot is a MUST for your business. It’s one of the small business ideas for 2019 that will help you engage with existing and potential customers online and 24/7 without an actual person monitoring it. How? By using computer programs and Artificial Intelligence (AI) to simulate how a real person will respond to all possible queries. This technology will help improve your customer service, sales, and marketing.

Artificial Intelligence

Speaking of AI, its application in business is not just limited to chatbots. It will also help your team members create error-free emails and documents (Grammarly and Ginger), reach the correct delivery address (Waze and Google Maps), and have personal assistants (Cortana, Alexa, and Siri). Artificial Intelligence also enables product recommendations and purchase predictions to help your customers decide when shopping on your online store. By adopting AI to your business, you’ll help your employees work more efficiently and effectively.

Augmented Reality (AR) and Virtual Reality (VR)

Using these trending technologies is one of the small business ideas for 2019 to help specifically on product visualization and promotion. With products like VR Box and 3D glasses, AR and VR will help consumers view products or see the actual stores while sitting at home. If your small business is developing mobile apps and games, then you can follow suit with Pokemon GO and Holo. AR and VR will make your product more popular and profitable.

Cloud Technology

If you haven’t turned to the Cloud yet, then do so right away in 2019. Cloud technology or cloud computing is the process of storing and accessing business data and programs via the internet. It’s a big part of the process called digital transformation in businesses. By transitioning to the cloud, you can save your business a lot of money in many ways. For one, there won’t be any need for hardware and physical servers to keep the company system. All are accessible through the web, whenever or wherever you may be.

Digital Workplaces

Another one of the small business ideas for 2019 is working on a digital workplace. This technology is connected to cloud computing and the digitalization of business-related programs and processes. It essentially refers to the online software or platform where employees or team members can collaborate and perform their task online, with the use of the internet.

Digital workplaces can take form in emails, messenger applications like Skype and Slack, or project management software like Trello and Asana. With the use of digital workplaces, your small business can save money on a physical workspace because team members can work from home or remotely from other locations.

Cryptocurrency

Blockchain is a hot topic in the recent years because of its use in IT, banking, finance, and many others. It’s a form of decentralized electronic ledger where data can be stored, updated, and processed from various locations. It’s fast, reliable, and a secure way of transferring information. One of its popular applications is cryptocurrency, a type of digital currency or electronic currency that can be used to purchase online products and services. By including cryptocurrencies like Bitcoin as a mode of payment, your business will have a wider range of market.

Internet of Things (IoT)

The IoT is the network that connects vehicles, smart appliances, and devices to the internet, which allows them to interact with one another. This is of the emerging technologies today and one of the best small business ideas for 2019.

In today’s society where work and productivity are very important, the convenience of having things like autonomous cars and automated appliances will help people save time and money. The Internet of Things can also be applied to improve the manufacturing productivity with digital control systems; and the medical industry with Smart Healthcare system.

Automation

Automation is the process of creating and using technology to eliminate human error in business processes and production. It helps work to be done fast and efficiently, which increases productivity and profitability. There are many automation software and platforms available in the market right now. Some of them are Ontraport and Hubspot for marketing; InfusionSoft and Pipedrive for sales; as well as BambooHR and Workday for HR Management.

SkyOne is one of the best examples of cloud platforms for businesses that help in automation of processes and make work more efficient and productive.

Any of these small business ideas for 2019 will give your company a big potential for growth, profitability, and advantage over its competitors. Whichever emerging business techs or trends you’ll integrate into the current business processes, just make sure to study them carefully. Find out the best ways to utilize them that’ll bring a positive impact on your business.